Bah, ok, it didn't also quote my original post... But I will explain further.
Yearlings rarely resemble their final look... But yearlings which have been under nourished during any point will almost always look about twice as bad as they normally would... In some cases it can be as bad as so fugly "hide that thing around back so nobody sees him, ever!" - the end result often is radically different.
I have rehabbed a few, and raised some well cared for yearlings of similar bloodlines, so I am speaking of personal experiences.
I had one which had been so wormy, so malnurished and so under developed physically he had people seriously questioning what I had seen that made me think he was a quality horse. In the end nobody questioned it, and anyone who didn't know him back then would never know he had a rough start to look it him as a 7yr old.
I don't want to offer a critique on him because it would be unfair to him... And to you. He is really unbalanced right now, and on top of that he just isn't that fit - it's to be expected if you got him in rough shape, but it won't get many glowing reviews in a conformation critique at this point since we can only critique what we can see.
Give him another year, spend some time hand walking him, especially up and down hills, and if possible offer him as much turnout as you can, and post him again as a two year old... I bet you will get more positive results.